Alphabet Inc (NASDAQ:GOOG) Stock Position Decreased by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC cut its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,164 shares of the information services provider’s stock after selling 40 shares during the quarter. Alphabet accounts for 0.7% of Bowling Portfolio Management LLC’s portfolio, making the stock its 24th largest holding. Bowling Portfolio Management LLC’s holdings in Alphabet were worth $3,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FormulaFolio Investments LLC boosted its position in shares of Alphabet by 7.2% in the third quarter. FormulaFolio Investments LLC now owns 430 shares of the information services provider’s stock worth $632,000 after buying an additional 29 shares during the period. Measured Wealth Private Client Group LLC acquired a new stake in shares of Alphabet in the third quarter worth $253,000. DAVENPORT & Co LLC boosted its position in shares of Alphabet by 20.7% in the third quarter. DAVENPORT & Co LLC now owns 53,737 shares of the information services provider’s stock worth $78,972,000 after buying an additional 9,207 shares during the period. Epstein & White Financial LLC acquired a new stake in shares of Alphabet in the third quarter worth $242,000. Finally, CRA Financial Services LLC boosted its position in shares of Alphabet by 6.0% in the third quarter. CRA Financial Services LLC now owns 1,371 shares of the information services provider’s stock worth $2,015,000 after buying an additional 78 shares during the period. 32.42% of the stock is owned by institutional investors and hedge funds.

NASDAQ GOOG opened at $1,573.01 on Friday. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18. The stock’s 50-day moving average is $1,525.61 and its two-hundred day moving average is $1,436.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. The firm has a market cap of $1,069.90 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. On average, equities analysts expect that Alphabet Inc will post 44.84 EPS for the current year.

GOOG has been the subject of several recent analyst reports. KeyCorp initiated coverage on Alphabet in a research report on Monday, September 14th. They issued an “overweight” rating for the company. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, August 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, October 12th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,760.00 target price for the company in a research report on Wednesday. Finally, Stifel Nicolaus cut Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,703.33.

In other news, Director Ann Mather sold 22 shares of Alphabet stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total value of $32,653.94. Following the transaction, the director now directly owns 1,134 shares in the company, valued at $1,683,162.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total value of $88,405.80. Following the completion of the transaction, the director now owns 548 shares in the company, valued at $807,439.64. The disclosure for this sale can be found here. Insiders sold 142 shares of company stock worth $213,357 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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